ICICI Bank: In May 2020, ICICI Bank launched its Golden Years Fixed Deposit for senior citizens with a higher interest rate and was for a limited period. Over the past three years, the private sector lender has repeatedly extended the last date for this particular FD.
Just two weeks back, ICICI Bank announced that it has extended the deadline from April 7, 2023, to October 31, 2023. Now again the bank has extended the special FD without mentioning the last date.
ICICI Golden Years FD interest rate
The scheme offers an interest rate of 7.5% per annum to senior citizens on deposits up to Rs 2 crore with a tenure of more than 5 years up to 10 years.
ICICI Golden years FD Features
- Senior citizen customers will get an additional interest rate of 0.10% for a limited period of time in addition to the existing additional rate of 0.50% per annum.
- The scheme came into effect from May 20, 2020.
- The additional rate will be available on new deposits as well as renewed deposits opened during the scheme period.
- Eligible FD tenure: 5 years 1 day, up to 10 years
- Applicable on opening single FDs below Rs 2 crore through ICICI Bank.
- premature withdrawal.
- With effect from March 14, 2023, the applicable penal rate will be 1.00% if the Fixed Deposit is opened and the above scheme is prematurely withdrawn / closed, after 5 years and 1 day.
Bank Senior Citizen FD Rates
ICICI Bank offers senior citizens an interest rate ranging between 3.50% to 7.50% for tenures ranging from 7 days to 10 years. The interest rates are effective from February 24, 2023.
